Wal-Mart buys delivery logistics startup Parcel

Faust added that New York City is a top market for Wal-Mart and Jet, both because of its population density and because of its proximity to some of Wal-Mart's distribution centers.

"Born and bred in New York City, Parcel has developed unique expertise delivering to customers in a distinctly challenging and essential market", he said.

The world's largest retailer plans to use the business to offer free, same-day delivery in New York City - the most populous city in the USA - as it continues to push into e-commerce to compete with Amazon (AMZN), Wal-Mart announced the purchase on its website, saying it paid less for Parcel than other acquisitions made this year, without giving more details on the terms. Items eligible for the service include frozen and fresh grocery items, as well as general consumer items like electronics. "Whatever they need and however they'd like it, we aim to provide - including the ability to offer last-minute ordering with same-day delivery service", Nate Faust, senior vice president of Walmart's USA e-commerce supply chain, said in a Q&A on Walmart's website.

Walmart has already been testing out rush deliveries in the city via their website Jet, said Nate Faust, the senior vice president of Walmart's eCommerce supply chain in the United States.

With the resources of Walmart behind it, it's easy to see Parcel's service expanded to other big cities, helping the company build out a network akin to Amazon's Prime Now rapid delivery service.

Parcel is a 24/7 operation that delivers packages the same day, overnight and in scheduled two-hour windows. Parcel's delivery vans have "No doorman?"

Jet's focus under the Walmart umbrella is to chase the millennial urban consumer that hasn't historically been reached by the parent brand. It bought a Brooklyn-based logistics startup to help it do this.

Parcel and Walmart did not disclose the acquisition price, but Recode reported that an anonymous source says it was less than $10 million.

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